Decentralized Exchanges Are Illegal.

[KSV]

According to FINCEN.

they cant regulate the whole world, it will be fun for us to watch them try tho.

[1714003229]

1714003229

[1714003229]

1714003229

[UncleBobs]

The regime is tightening its sinister grip!  Be afraid!  Run! Run!!!

http://www.globalpost.com/dispatch/news/regions/americas/united-states/130607/what-if-journalists-covered-us-like-they-cover-world

[BTCLuke]

I feel sorry for anyone who doesn't already have the OP and PuffPuffPass on ignore yet.

Judging by your reactions, they're doing a Grade A troll job here.

[esenminer]

This is not true. Nothing in FinCEN prevents you from trading Bitcoins for other cryptocurrency or for FIAT as long as you are acting on your own behalf (i.e. not a business).

The actual method of trading whether centralized or decentralized or meeting at your mom's house has no bearing.

FinCEN applies to US companies which act for consumers as a money services businesses - think Western Union - it doesn't apply to individuals.

You should claim and pay taxes on all income when / if you convert to FIAT.

If selling Bitcoins for cash was illegal so would selling your used gpu or your grandma's antique furniture.

[Stampbit]

FINCEN covers anyone who transfers money between two parties, be it virtual or real, they are therefore a MSB and must be registered as such. The cost of doing so is millions of dollars on the state level, and anyone who trades USD or with americans must be regulated. Ripple and any decentralized exchange theory therefore will be illegal as no one within the network can afford to be regulated. Even if such a network existed on tor it must at some point interface with the banks and it is at that point that FINCEN can begin hanging people to scare the rest into submission.

[Stampbit]

I feel sorry for anyone who doesn't already have the OP and PuffPuffPass on ignore yet.

Judging by your reactions, they're doing a Grade A troll job here.

The only trolls here are the ones still living under a bridge.

[drrussellshane]

Wouldn't surprise me if giving your kid a pop tart is illegal nowadays.

I don't know, but if your kid bites that pop tart into the shape of a pistol, you may be an accessory.

http://reason.com/blog/2013/03/01/pop-tart-pistol-7-year-old-gets-suspende

[AlternaPost]

Does anyone have a specific source for this claim?

[worldinacoin]

Bitcoin isn't an exchange at all, it is a software!

[BitcoinAshley]

When the government gets hold of some people and puts them in federal penitentiary for felony tax evasion, people will learn.  You DON'T need a big red "OFF" button to shut down bitcoin.  Bitcoin is very fragile.  For crying out loud people go into panic mode whenever they see a large sell order.  Also any new laws or regulations will deter future investors thus preventing new "fiat" from coming in.

LOL, wtf are you talking about? The government puts people in jail for felony tax evasion all the time, and people STILL evade taxes at a felony level. So what makes you think the deterrence will suddenly start working now that it's even EASIER do to it undetectably? 

That's like saying "When the government gets hold of some people and slaps a huge fine on them for felony copyright violation, people will learn - they will all suddenly STOP using torrents!"

For the record, regulation decreases supply and increases demand. Wild short-term fluctuations are not relevant. A few months ago bitcoin was $10 and a few years ago it was $1 and before that it was one cent. Try some perspective before you FUD yourself to death.

[owsleybeatsbigcartel]

According to FINCEN.

I hope they shut down Bitcoin. Would be funny.

They would have to shut off the Internet in it's entirety.

its starting....back to the smoke signal coin

[owsleybeatsbigcartel]

According to FINCEN.

FINCOIN ? >> pos i kaint get it to sync ! =) ha

[kelsey]

fincen = USA

What about the other 95% of the population 

Yeah mate, think too many on here and the US gov seems to forget there's a big wide world out there outside of the USA.

Also funny that most of these exchanges base themselves in the US.....dat just askin for trouble.

[bigdude]

fincen = USA

What about the other 95% of the population 

Also funny that most of these exchanges base themselves in the US.....dat just askin for trouble.

Well not really. The problem is, even if you are based OUTSIDE of the US, how do you accept USD deposits. And how do you send them when they are withdrawn.

That's why Mt.Gox had trouble in the US, they still had accounts there, even though they aren't based there.

So, how does an exchange get around that?

[kelsey]

fincen = USA

What about the other 95% of the population 

Also funny that most of these exchanges base themselves in the US.....dat just askin for trouble.

Well not really. The problem is, even if you are based OUTSIDE of the US, how do you accept USD deposits. And how do you send them when they are withdrawn.

That's why Mt.Gox had trouble in the US, they still had accounts there, even though they aren't based there.

So, how does an exchange get around that?

And why do you even need to accept USD?...hell I've been in btc from early on, never seen or touched a USD in my life. Simple don't trade in USD like 95% of the worlds population

[bigdude]

fincen = USA

What about the other 95% of the population 

Also funny that most of these exchanges base themselves in the US.....dat just askin for trouble.

Well not really. The problem is, even if you are based OUTSIDE of the US, how do you accept USD deposits. And how do you send them when they are withdrawn.

That's why Mt.Gox had trouble in the US, they still had accounts there, even though they aren't based there.

So, how does an exchange get around that?

And why do you even need to accept USD?...hell I've been in btc from early on, never seen or touched a USD in my life. Simple don't trade in USD like 95% of the worlds population

My point was that as an EXCHANGE, you would really want to accept USD right? otherwise you are cutting out a big market - ie. all US peeps

[jackjack]

According to FINCEN.

Yeah
Come at me FINCEN

[crumbs]

According to FINCEN.

Yeah
Come at me FINCEN

You're not from US, but for those who care about FINCEN:
"An exchanger is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency"
Cut, paste & Google

[gollum]

fincen = USA

What about the other 95% of the population 

Also funny that most of these exchanges base themselves in the US.....dat just askin for trouble.

Well not really. The problem is, even if you are based OUTSIDE of the US, how do you accept USD deposits. And how do you send them when they are withdrawn.

That's why Mt.Gox had trouble in the US, they still had accounts there, even though they aren't based there.

So, how does an exchange get around that?

Assume that you have a legal forex-deealershop anywhere in the world (except US), noone can stop you from selling bitcoins and receive dollar bills. or any other currency.

[Bitcoinpro]

its a troll thread it should really be deleted